Berjaya Auto buys 20% stake in Inokom for RM30 mil, research reports reveal details of upcoming Mazdas

2015-Mazda-CX-3-005

Berjaya Auto Bhd has entered into separate share sale agreements for the acquisition of a 20% stake in Inokom Corp Sdn Bhd for RM30 million, Bernama reports. The purchase would be paid for by the group’s internally-generated funds, Berjaya Auto said in a Bursa Malaysia filing.

“The acquisition represents an opportunity for Berjaya Auto Group to expand its business operations upstream as Inokom is the contract assembler for Mazda 3 and Mazda CX-5 models in Malaysia. It would also enable the group to participate in the future profitability and direction of Inokom,” it said.

According to Kenanga, Berjaya Auto’s strong sales momentum will be underpinned by the Mazda 3 CKD, CX-5 and new models such as the Mazda 2, CX-3 and MX-5, while AmeSecurities expects Mazda’s contribution to Inokom to leapfrog over the next few years – form 40% to potentially 70% of total capacity by early 2016, when the CX-3 is launched.

Additionally, production of the Mazda 6 CKD is set to commence by Q4 2015. A capacity of 7,000-9,000 units per annum is estimated, with over half allocated for export (like the CX-5). The Mazda 3 CKD is set to come on stream by February 2015, continues AmeSecurities.

The stake will be acquired from existing shareholders Persumals and Berjaya Group. The two existing shareholders will each sell the equivalent of 10% to Berjaya Auto. Post-acquisition, Inokom’s shareholders will be Sime Darby Motors Sdn Bhd (51%), Sime Darby Hyundai Sdn Bhd (5%), Berjaya Auto (20%), Hyundai Motor Company (15%), Berjaya Group (5%) and Pesumals (M) Sdn Bhd (4%).

Inokom underwent a paintshop upgrade in October, which expands total capacity from 30,000 to an estimated 50,000 units per annum. If Mazda Malaysia’s plans to build its own paint shop comes to fruition, capacity can be expanded by a further 60% to 80,000 units per annum, according to AmeSecurities.

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Jonathan James Tan

While most dream of the future, Jonathan Tan dreams of the past, although he's never been there. Fantasises much too often about cruising down Treacher Road (Jalan Sultan Ismail) in a Triumph Stag that actually works, and hopes this stint here will snap him back to present reality.

 

Comments

  • Berjaya Suxxs just like Cardiff on Dec 02, 2014 at 5:33 pm

    I want nothing to do with Berjaya !

    Like or Dislike: Thumb up 5 Thumb down 9
    • Semi-Value (Member) on Dec 02, 2014 at 8:27 pm

      i don like them. i don like any of them. but berjaya does a better job than umw.

      Like or Dislike: Thumb up 8 Thumb down 1
      • Berjaya Suxxs just like Cardiff on Dec 03, 2014 at 9:22 am

        What happened to UMW ? Is it a UMW issue or a Toyota issue ?

        Could it be Berjaya is “seen” to provide better service as Berjaya currently only sells 10% ( in units) of cars UMW sells in a year ?

        Enlighten me on your UMW claim

        Like or Dislike: Thumb up 0 Thumb down 3
    • Low Budget on Dec 03, 2014 at 10:00 am

      Berjaya is everywhere in this country, if you can avoid the cars they distributed, you can’t avoid some other Berjaya’s business.

      Like or Dislike: Thumb up 0 Thumb down 1
      • Everywhere my ass on Dec 03, 2014 at 10:42 pm

        I go KK, not 7-11

        I drink Nescafe, not Starbucks

        I go Kedai ubat Cina, not Caring Pharmacy

        I buy 4d not TOTO

        I go McD because its no longer owned by Berjaya

        So what you tokking everywhere ?

        Like or Dislike: Thumb up 3 Thumb down 1
  • isuzuki on Dec 02, 2014 at 5:45 pm

    Inokom 2
    Inokom 3
    Inokom 5
    Inokom Biante
    Inokom BT50?

    Like or Dislike: Thumb up 0 Thumb down 4
  • Lpost on Dec 02, 2014 at 6:37 pm

    Mazda 6 ckd in Q4 2015…? All new mazda 6 will be due in Q4 2016 by 4-year model cycle.

    Like or Dislike: Thumb up 0 Thumb down 3
  • Aeron Co on Dec 04, 2014 at 12:33 pm

    Will the Philippine market units of Mazda vehicles sourced from Malaysia too?

    Like or Dislike: Thumb up 0 Thumb down 0
 

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